# Altis Biosystems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/altis-biosystems

- Industry: Biotechnology
- Headquarters: Chapel Hill, US
- Website: www.altisbiosystems.com
- Total disclosed funding: $6.2M
- Latest round: Seed (Jul 27, 2020)
- Investors on record: 5

## About

Altis Biosystems, Inc. is a biotechnology company focused on advanced in vitro models for pre-clinical drug discovery, particularly through its RepliGut® Systems, which replicate human gastrointestinal physiology.Founded in 2015 in Chapel Hill, US, Altis Biosystems specializes in in vitro models for drug testing. The firm has not undergone significant pivots and operates as an independent company. The founders include Christopher Sims, Michael Biron, and Scott Magness. The CEO is Ben Scruggs. In July 2020, Altis raised USD 3.1 mn in Seed funding led by VentureSouth, with participation from several angel investor networks. The total amount raised by the company stands at USD 3.1 mn across 2 deals.Altis Biosystems offers advanced in vitro models designed for pre-clinical drug discovery, primarily featuring their RepliGut® Systems. These systems utilize stem cell-derived models to mimic the human small intestine and colonic epithelium, allowing for the assessment of drug pharmacology, metabolism, absorption, and toxicity. Their products cater to pharmaceutical and biotechnology firms, and are employed across North America, Europe, and Asia for screening compounds and evaluating drug responses.The revenue model of Altis Biosystems is generated through direct sales of RepliGut® Kits and associated services to B2B clients in the pharmaceutical sector. Clients typically purchase these systems to support their drug discovery efforts, which may involve one-time fees for the model kits and ongoing service agreements for custom assays or support, fostering stable revenue from repeat business.In July 2020, Altis Biosystems raised USD 3.1 mn in Seed funding to support their growth initiatives. The company aims to expand its product offerings and enhance its RepliGut® Systems. Plans include targeting new geographic markets in Europe and Asia by the end of 2022, focusing on strategic partnerships with pharmaceutical firms to broaden their client base and leverage their specialized services in drug discovery.

## Funding rounds

- Seed, Jul 27, 2020, $3.1M — Hatteras Venture Partners, Atlanta Technology Angels, Central Texas Angel Network, VentureSouth, RTP Capital Associates, Inc.
- Seed, Dec 30, 2019, $3.1M — VentureSouth

## Investors

- VentureSouth (https://capitalatlas.ai/funds/venturesouth) — Seed
- Hatteras Venture Partners (https://capitalatlas.ai/funds/hatteras-venture-partners) — Seed
- Atlanta Technology Angels (https://capitalatlas.ai/funds/atlanta-technology-angels) — Seed
- Central Texas Angel Network — Seed
- RTP Capital Associates, Inc. — Seed